38092 Federal Register / Vol. 86, No. 135 / Monday, July 19, 2021 / Notices 

1 15 U.S.C. 1691b(a). 

2 12 U.S.C. 1691b(d). 

3 5 U.S.C. 552(b)(8). 

4 5 U.S.C. 552(b)(4). 

5 5 U.S.C. 552(b)(6). 

a. Whether the proposed collection of 

information is necessary for the proper 

performance of the Board’s functions, 

including whether the information has 

practical utility; 

b. The accuracy of the Board’s 

estimate of the burden of the proposed 

information collection, including the 

validity of the methodology and 

assumptions used; 

c. Ways to enhance the quality, 

utility, and clarity of the information to 

be collected; 

d. Ways to minimize the burden of 

information collection on respondents, 

including through the use of automated 

collection techniques or other forms of 

information technology; and 

e. Estimates of capital or startup costs 

and costs of operation, maintenance, 

and purchase of services to provide 

information. 

At the end of the comment period, the 

comments and recommendations 

received will be analyzed to determine 

the extent to which the Board should 

modify the proposal. 

Proposal Under OMB Delegated 

Authority To Extend for Three Years, 

Without Revision, the Following 

Information Collection 

Report title: Recordkeeping and 

Disclosure Requirements Associated 

with the Consumer Financial Protection 

Bureau’s (CFPB’s) Regulation B. 

Agency form number: FR B. 

OMB control number: 7100–0201. 

Frequency: On occasion; annually. 

Respondents: The Board accounts for 

the paperwork burden imposed under 

the Equal Credit Opportunity Act 

(ECOA), as implemented by the CFPB’s 

Regulation B, for the following 

institutions (except those entities 

supervised by the CFPB): State member 

banks; subsidiaries of state member 

banks; subsidiaries of bank holding 

companies; U.S. branches and agencies 

of foreign banks (other than federal 

branches, federal agencies, and insured 

state branches of foreign banks); 

commercial lending companies owned 

or controlled by foreign banks; and 

organizations operating under section 

25 or 25A of the Federal Reserve Act (12 

U.S.C. 601–604a; 611–631). 

Estimated number of respondents: 

Record retention for applications, 

actions, prescreened solicitations, selftesting, and self-correction, Information 

for monitoring purposes 

(recordkeeping), Notifications, 

Furnishing of credit information, 

Information for monitoring purposes 

(disclosure), and Rules on providing 

appraisals and other valuations, 851; 

Self-testing: Incentives for self-testing, 

187; Incentives for self-correction, 47; 

and Rules concerning requests for 

information, disclosure for optional selftest, 187. 

Estimated average hours per response: 

Record retention for applications, 

actions, prescreened solicitations, selftesting, and self-correction, 0.004; 

Information for monitoring purposes 

(recordkeeping), 0.017; Notifications, 

Furnishing of credit information, and 

Information for monitoring purposes 

(disclosure), 0.004; Rules on providing 

appraisals and other valuations, 0.008; 

Self-testing: Incentives for self-testing, 

0.004; Incentives for self-correction, 

0.016; and Rules concerning requests for 

information, disclosure for optional selftest, 0.004. 

Estimated annual burden hours: 

Record retention for applications, 

actions, prescreened solicitations, selftesting, and self-correction, 27,344; 

Information for monitoring purposes 

(recordkeeping); Notifications, 27,344; 

Furnishing of credit information, 4,844; 

Information for monitoring purposes 

(disclosure), 5,998; Rules on providing 

appraisals and other valuations; Selftesting: Incentives for self-testing, 

Incentives for self-correction, and Rules 

concerning requests for information, 

disclosure for optional self-test, 1. 

General description of report: The 

ECOA prohibits discrimination in any 

aspect of a credit transaction because of 

race, color, religion, national origin, sex, 

marital status, age, receipt of public 

assistance, or the fact that the applicant 

has in good faith exercised any right 

under the Consumer Credit Protection 

Act. To aid in implementation of this 

prohibition, the statute and Regulation 

B subject creditors to various mandatory 

disclosure requirements, notification 

provisions informing applicants of 

action taken on the credit application, 

provision of appraisal reports in 

connection with mortgages, credit 

history reporting, monitoring rules, and 

recordkeeping requirements. These 

requirements are triggered by specific 

events, and disclosures must be 

provided within the time periods 

established by the statute and 

regulation. 

Legal authorization and 

confidentiality: The ECOA authorizes 

the CFPB to issue regulations to carry 

out the statute’s purposes.1 The ECOA 

also directs the CFPB to promulgate 

regulations requiring covered entities to 

maintain records evidencing 

compliance with the statute for at least 

one year.2 These regulations impose 

disclosure and recordkeeping 

requirements on Board-supervised 

entities. Compliance with the 

recordkeeping and disclosure 

requirements of the CFPB’s Regulation B 

is mandatory. 

The disclosures, records, policies, and 

procedures required by Regulation B are 

not required to be submitted to the 

Board. This information would 

generally only be obtained if Federal 

Reserve examiners retained a copy as 

part of an examination or supervision of 

a bank, in which case the information 

may be treated as confidential under 

exemption 8 of the Freedom of 

Information Act (FOIA).3 In addition, 

exemptions 4 and 6 of the FOIA may 

also apply to certain information 

obtained by the Board. Exemption 4 

may apply if the information is 

confidential commercial or financial 

information that is both customarily and 

actually treated as private by the 

respondent.4 Exemption 6 may apply to 

information, the disclosure of which 

would ‘‘constitute a clearly unwarranted 

invasion of personal privacy.’’ 5

Consultation outside the agency: The 

Board consulted with the CFPB 

regarding the estimated burden of this 

information collection. 

Board of Governors of the Federal Reserve 

System, July 13, 2021. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2021–15285 Filed 7–16–21; 8:45 am] 

BILLING CODE 6210–01–P 

FEDERAL RESERVE SYSTEM 

Change in Bank Control Notices; 

Acquisitions of Shares of a Bank or 

Bank Holding Company 

The notificants listed below have 

applied under the Change in Bank 

Control Act (Act) (12 U.S.C. 1817(j)) and 

§ 225.41 of the Board’s Regulation Y (12 

CFR 225.41) to acquire shares of a bank 

or bank holding company. The factors 

that are considered in acting on the 

applications are set forth in paragraph 7 

of the Act (12 U.S.C. 1817(j)(7)). 

The public portions of the 

applications listed below, as well as 

other related filings required by the 

Board, if any, are available for 

immediate inspection at the Federal 

Reserve Bank(s) indicated below and at 

the offices of the Board of Governors. 

This information may also be obtained 

on an expedited basis, upon request, by 

contacting the appropriate Federal 

Reserve Bank and from the Board’s 

Freedom of Information Office at 


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Federal Register / Vol. 86, No. 135 / Monday, July 19, 2021 / Notices 38093 

1 12 CFR 233.5(a). 

2 12 CFR 233.5(b). 

3See 12 CFR 233.6. 

4 5 U.S.C. 552(b)(8). 

https://www.federalreserve.gov/foia/ 

request.htm. Interested persons may 

express their views in writing on the 

standards enumerated in paragraph 7 of 

the Act. 

Comments regarding each of these 

applications must be received at the 

Reserve Bank indicated or the offices of 

the Board of Governors, Ann E. 

Misback, Secretary of the Board, 20th 

Street and Constitution Avenue NW, 

Washington, DC 20551–0001, not later 

than August 3, 2021. 

A. Federal Reserve Bank of Atlanta 

(Erien O. Terry, Assistant Vice 

President) 1000 Peachtree Street NE, 

Atlanta, Georgia 30309. Comments can 

also be sent electronically to 

Applications.Comments@atl.frb.org: 

1. Jeremy Francis Gilpin, South Lake 

Tahoe, California, and Jeffrey Alan 

Smith, Atlanta, Georgia; as a group 

acting in concert, to acquire voting 

shares of Community Bankshares, Inc., 

LaGrange, Georgia, and thereby 

indirectly acquire voting shares of 

Community Bank and Trust—West 

Georgia, LaGrange, Georgia, and 

Community Bank and Trust—Alabama, 

Union Springs, Alabama. 

B. Federal Reserve Bank of Chicago 

(Colette A. Fried, Assistant Vice 

President) 230 South LaSalle Street, 

Chicago, Illinois 60690–1414: 

1. Brian Herbstritt Revocable Trust, 

Chicago, Illinois, Brian Herbstritt, as 

trustee, River Forest, Illinois; the 

Deborah Herbstritt Revocable Trust, 

Chicago, Illinois, Deborah Maloney, as 

trustee, River Forest, Illinois; and the 

Amy Reardon Revocable Trust, Chicago, 

Illinois, Amy Reardon, as trustee, River 

Forest, Illinois; to join the Herbstritt 

Family Control Group, a group acting in 

concert, to retain voting shares of 

Schaumburg Bancshares, and thereby 

indirectly retain voting shares of 

Heritage Bank of Schaumburg, both of 

Schaumburg, Illinois. 

Board of Governors of the Federal Reserve 

System, July 14, 2021. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

[FR Doc. 2021–15307 Filed 7–16–21; 8:45 am] 

BILLING CODE P 

FEDERAL RESERVE SYSTEM 

Agency Information Collection 

Activities: Announcement of Board 

Approval Under Delegated Authority 

and Submission to OMB 

AGENCY: Board of Governors of the 

Federal Reserve System. 

SUMMARY: The Board of Governors of the 

Federal Reserve System (Board) is 

adopting a proposal to extend for three 

years, without revision, the 

Recordkeeping Requirements 

Associated with Regulation GG (FR GG; 

OMB No. 7100–0317). 

FOR FURTHER INFORMATION CONTACT: 

Federal Reserve Board Clearance 

Officer—Nuha Elmaghrabi—Office of 

the Chief Data Officer, Board of 

Governors of the Federal Reserve 

System, Washington, DC 20551, (202) 

452–3829. 

Office of Management and Budget 

(OMB) Desk Officer—Shagufta Ahmed— 

Office of Information and Regulatory 

Affairs, Office of Management and 

Budget, New Executive Office Building, 

Room 10235, 725 17th Street NW, 

Washington, DC 20503, or by fax to 

(202) 395–6974. 

SUPPLEMENTARY INFORMATION: On June 

15, 1984, OMB delegated to the Board 

authority under the PRA to approve and 

assign OMB control numbers to 

collections of information conducted or 

sponsored by the Board. Boardapproved collections of information are 

incorporated into the official OMB 

inventory of currently approved 

collections of information. The OMB 

inventory, as well as copies of the PRA 

Submission, supporting statements, and 

approved collection of information 

instrument(s) are available at https://

www.reginfo.gov/public/do/PRAMain. 

These documents are also available on 

the Federal Reserve Board’s public 

website at https://

www.federalreserve.gov/apps/ 

reportforms/review.aspx or may be 

requested from the agency clearance 

officer, whose name appears above. 

Final Approval Under OMB Delegated 

Authority of the Extension for Three 

Years, Without Revision, of the 

Following Information Collection 

Report title: Recordkeeping 

Requirements Associated with 

Regulation GG. 

Agency form number: FR GG. 

OMB control number: 7100–0317. 

Frequency: Annually. 

Respondents: Depository institutions, 

credit unions, card system operators, 

and money transmitting business 

operators. 

Estimated number of respondents: 

Depository institutions: 2,331; credit 

unions: 2,575; card system operators: 7; 

money transmitting business operators: 

62; and new or de novo institutions: 3. 

Estimated average hours per response: 

Ongoing annual burden of 8 hours per 

recordkeeper for depository institutions, 

credit unions, card system operators, 

and money transmitting business 

operators. One time burden of 100 hours 

for new or de novo institutions. 

Estimated annual burden hours: 

Ongoing burden: 39,800; one-time 

burden: 300. 

General description of report: Section 

5 of Regulation GG, Prohibition on 

Funding of Unlawful internet Gambling, 

requires all non-exempt participants in 

designated payment systems to establish 

and implement policies and procedures 

reasonably designed to identify and 

block, or otherwise prevent or prohibit, 

transactions restricted by the Unlawful 

internet Gambling Enforcement Act of 

2006.1 In addition, section 5 states that 

a participant in a designated payment 

system may rely on policies and 

procedures established by the 

designated payment system if the 

system’s policies and procedures 

otherwise comply with the requirements 

of the regulation.2

Section 6 of Regulation GG sets out 

non-exclusive examples of policies and 

procedures for each designated payment 

system that the Board and the 

Department of the Treasury believe are 

reasonably designed to prevent or 

prohibit restricted transactions for nonexempt participants in the system.3

The internal agency tracking number 

previously assigned by the Board to this 

information collection was ‘‘FR 4026.’’ 

The Board has changed the internal 

agency tracking number to ‘‘FR GG’’ for 

the purpose of consistency. 

Legal authorization and 

confidentiality: FR GG is authorized by 

section 802 of the Unlawful internet 

Gambling Enforcement Act, which 

permits the Board to prescribe 

regulations requiring designated 

payment systems and participants 

therein to establish policies and 

procedures to identify and block or 

otherwise prevent and prohibit 

restricted transactions (31 U.S.C. 

5364(a)). The obligation to respond is 

mandatory. 

The policies and procedures required 

by Regulation GG are not required to be 

submitted to the Board. To the extent 

such policies and procedures are 

obtained by the Board through the 

examination process, they may be kept 

confidential under exemption 8 of the 

Freedom of Information Act, which 

protects information contained in or 

related to an examination of a financial 

institution.4

Current actions: On March 8, 2021, 

the Board published a notice in the 

Federal Register (86 FR 13380) 

requesting public comment for 60 days 

on the extension, without revision, of 


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